The Western Australian Government is set to release $4.93 million of funding for nickel and gold exploration in the Eastern Goldfields.
The funds will be channelled via the Western Australia’s Exploration Incentive Scheme (EIS) co-funded drilling program to 41 successful projects.
A third of the applicants are searching for battery commodities, dominated by nickel or nickel-cobalt exploration. Others are looking for vanadium and lithium.
Applicants that list potash as their exploration target are now also a regular occurrence for co-funding, according to the Western Australian Government.
“It’s great to see such a diverse range of battery and traditional minerals, such as base metals and gold, with gold experiencing a strong market value this past financial year,” Western Australian Mines and Petroleum Minister Bill Johnston said.
“The McGowan Government is supporting Western Australia’s mining sector, which is helping increase employment figures and the number of mining tenements and exploration licences.”
A total of 64 applicants requested nearly $8 million for co-funded drilling. The next round of program opens in February next year.
EIS drilling program has extended funding to over 940 projects since its commenced in 2009, leading to more than 800,000 metres of drilling across the state.
The Western Australian Government aims to grow the state’s future battery industry by capitalising on its large reserves of lithium, vanadium, manganese, cobalt and nickel resources.